AMResorts, along with Apple Vacations and Amstar DMC – which comprise Apple Leisure Group (ALG) – have announced completion of an equity investment by Bain Capital, a global private investment firm, that will position the company to drive the next phase of growth in the hospitality market. Financial terms of the private transaction were not disclosed.
Alex Zozaya, AMResorts’ founding president, will continue to oversee the company while taking on a new role as CEO of Apple Leisure Group. AMResorts’ executive vice president Gonzalo del Peon has been appointed president of the hospitality company.
“Bain Capital shares our vision and strongly supports the way we conduct business,” said Zozaya, CEO of Apple Leisure Group. With the backing of this respected international investment firm that has a portfolio of investments in more than 250 companies in a variety of industries around the world, we are well positioned to advance our company to the next strategic level,” he added.
AMResorts reported significant growth over the past year and plans continued expansion of its resort portfolio, comprised of six separate brands with 32 properties and 12,000 rooms including the recent launch of the new Breathless Resorts & Spas. In addition, the company anticipates entry into new destinations including Costa Rica and currently has four properties under development: Now Onyx Punta Cana, Secrets Puerto Los Cabos, Dreams Las Mareas Costa Rica, Now Pearl Puerto Vallarta, along with projects in Playa Mujeres and Akumal, Mexico.
“AMResorts has always been on the cutting edge of the industry with best practices in supplier relations, guest satisfaction, production innovation and a distribution strategy that has supported our consistent growth over the last 11 years. This partnership brings important new resources to fund further market expansion, portfolio growth, technological advancements and personnel acquisition while enabling us to consistently deliver an exceptional guest experience,” said Gonzalo del Peon, president of AMResorts.